Trex Shares Rise on Excitement Around Deal Between Azek, James Hardie

Dow Jones03-24

By Denny Jacob

Trex shares rose 5.1% after a deal between two companies in the building-products space came together.

Shares were trading around $62.45. The stock is down 37% over the last year.

James Hardie Industries, a fiber-cement siding producer, said late Sunday that it agreed to buy Azek, a maker of composite decking, railing and pergolas, in a cash-and-stock deal worth $8.75 billion.

Truist analyst Keith Hughes in a research note said the products of both Azek and James Hardie provide significant benefits over traditional options such as wood and vinyl, and that those products have seen above-market growth versus their respective categories.

Investors appear to be buoyed by the deal and what it could mean for Trex, which makes composite boards with sawdust and old plastic bags.

"Azek peer Trex is a great option for investors looking for a pure play composite decking," said Hughes.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

March 24, 2025 11:12 ET (15:12 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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